The General Assembly Raised Bill No. 5126 introduces technical revisions to consumer protection laws, specifically regarding the written residential condition reports required in real estate transactions. The bill repeals subsection (d) of section 20-327b and replaces it with new provisions that establish detailed requirements for these reports. The Commissioner of Consumer Protection is responsible for creating templates that adhere to specific formatting guidelines, ensuring that sellers disclose known issues related to the property, including structural, mechanical, and environmental concerns, as well as any legal encumbrances.

Key insertions in the bill include new questions about flood risk awareness, such as whether the property is in a FEMA-designated floodplain and if the seller has received federal disaster assistance for flood damage. Sellers are also required to certify the accuracy of the information provided in the reports. The bill clarifies the responsibilities of real estate brokers and emphasizes that the information disclosed does not constitute a warranty to the buyer. Additionally, it updates various sections of the general statutes and specifies effective dates for the new provisions, aiming to enhance transparency and consumer protection in real estate transactions.

Statutes affected:
Raised Bill: 20-673